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NORTHERN CALIFORNIA NEWS
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Fresno Apartment Property Sells for $131k/Unit

6/21/22

The Reserve, a 76-unit community located just outside of the downtown area of Fresno, was acquired by a SoCal private investment group for $10 mil, or $131.5k/unit.

Built in 1968, The Reserve is located on 220 South Callisch Ave and comprises a mix of two-, three- and four-bedroom extra-large units. Community amenities include well-manicured grounds, a pool and spa, on-call / on-site maintenance, an on-site laundry facility, and controlled access capabilities. The Reserve is within walking distance to Fresno’s Downtown, filled with a plethora of dining and nightlife options, high-end shopping, and unique architecture.

The Reserve is located in the Fresno urban core within a designated opportunity zone, which highlights the surrounding area for new private and public investments for community-level impact. Commutable to 848,000 jobs within a 30-, 60- and 90-minute commute of The Reserve, there are approximately 401,905, 662,575, and 847,905 jobs, respectively. The 99 and 180 Highways offer easy access to employment for an increasingly robust tenant base throughout Fresno, Clovis, and the surrounding Central Valley.

Robin Kane and Brendan Kane of The Mogharebi Group represented the seller a long-term SoCal based owner.

“Fresno has been a top five market in the nation for Year-Over-Year Rent Growth. The Reserve presented a phenomenal opportunity given its unit mix of two-, three- and four-bedroom units” said Robin Kane of The Mogharebi Group. “The Reserve’s prime location between eight schools and the nearby downtown makes this a highly attractive locale for investors.”




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